The Royal Canadian Mounted Police (RCMP) is looking for for a digital asset resolution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). A young was opened for functions on August 10. Because the tender announcement goes: 

“The event of a centralized repository resolution would permit law enforcement officials to grab these property in a person pleasant method, whereas additionally providing vital safety to forestall the theft of stated property throughout their storage.”

There are seventeen factors, demanded by the RCMP from the long run repository. Amongst them are the abilty to course of transactions for the highest 20 cryptocurrency blockchains by market capitalization and scalability to help new blockchains sooner or later. The RCMP additionally intends to grant entry to its knowledge for customers who want it. As for NFTs, at this second the police deems essential to allow holding of Ethereum, Solana, and Polygon generated non-fungibles. 

Canada’s digital asset repository. Supply:

Different options to be included within the repository contemplate the safety points, equivalent to safety of personal keys, safe disposal course of and each day automated verification. A local cellular software will probably be developed on Android.

Associated: Canadians have ‘weak incentives’ to use a CBDC: Bank of Canada

Just lately Canadian regulation enforcement began utilizing specialised software program from Chainalysis to hint crypto whereas investigating cybercrimes. Native police now have the ability to trace blockchain transactions, establish suspects and decide the place funds have been deposited.

In the meantime, the variety of Canadians holding Bitcoin has fallen from 13.1% in 2021 to 10.1% in 2022.

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